LEADER 00000nam a22004813i 4500 
001    EBC3050730 
003    MiAaPQ 
005    20200713055337.0 
006    m     o  d |       
007    cr cnu|||||||| 
008    200713s2004    xx      o     ||||0 eng d 
020    9781280085635|q(electronic bk.) 
020    |z9780821359983 
035    (MiAaPQ)EBC3050730 
035    (Au-PeEL)EBL3050730 
035    (CaPaEBR)ebr10065779 
035    (CaONFJC)MIL8563 
035    (OCoLC)495528976 
040    MiAaPQ|beng|erda|epn|cMiAaPQ|dMiAaPQ 
050  4 HD7105.4 -- .P8 2003eb 
082 0  353.5/49 
100 1  Staff, World Bank 
245 10 Public Pension Fund Management :|bGovernance, 
       Accountability, and Investment Policies 
264  1 Washington :|bWorld Bank Publications,|c2004 
264  4 |c©2004 
300    1 online resource (320 pages) 
336    text|btxt|2rdacontent 
337    computer|bc|2rdamedia 
338    online resource|bcr|2rdacarrier 
505 0  Intro -- Contents -- Foreword -- Contributors -- 
       Introduction -- Chapter 1 -- A Framework for Public 
       Pension Fund Management -- The Growth of Public Sector 
       Pension Funds -- Governance of Public Pension Schemes -- 
       Public Sector Governance: General Issues -- Laying a 
       Foundation for Public Pension Scheme Governance -- A 
       Governance Checklist -- Accountability of Public Sector 
       Pension Schemes -- Laying a Foundation for Public Pension 
       Scheme Accountability -- An Accountability Checklist -- 
       Investment Policies -- Laying a Foundation for Public 
       Pension Scheme Investment Policy and Processes -- An 
       Investment Policy Checklist -- Conclusion -- References --
       Annex 1.A: ABP Investment Policy Statement -- Introduction
       -- I. The Investment process -- II. Investment plans -- 
       III. Implementation of the investment plan -- IV. Social 
       responsibility -- V. The role of the shareholder 
       ("corporate governance") -- VI. Amendment of this Code -- 
       Annex 1.B: Index of Governance Framework Document- 
       Australian Prudential Regulation Authority (APRA) -- 1. 
       Foundations -- 2. Key Roles and Relationships -- 3. 
       Internal Accountability Framework -- 4. External 
       Accountability Framework -- 5. Consequences of Failure to 
       Meet Responsibilities -- Appendix A-Statutory 
       Responsibilities of Board Members -- Appendix B-Matrix of 
       Delegations -- Notes -- Chapter 2 -- Governance of Public 
       Pension Funds:Lessons from Corporate Governance and 
       International Evidence -- Agency Theory and Corporate 
       Governance -- Agency Problems: Separation of Ownership and
       Control and Moral Hazard Problems -- Resolving Problems --
       Agency Problems in Public Pension Plans -- Who Are Public 
       Pension Fund Stakeholders? -- Potential Agency Problems --
       Political Involvement: Government Restrictions and Social 
       Mandates -- The Effects on Fund Performance -- Solving 
       Agency Problems -- Separation of Ownership and Control 
505 8  Ownership and Control in Private Pensions -- Ownership and
       Control in Public Pension Funds -- Implications for 
       Governance -- External Controls -- Implications for the 
       Governing Body of Public Pension Plans -- Board 
       Composition -- Nomination and Termination -- 
       Accountability -- Performance Measures -- Roles of the 
       Board -- Standards of Behavior -- Information and 
       Transparency -- Conclusion -- References -- Notes -- 
       Chapter 3 -- Transparency and Accountability of Public 
       Pension Funds -- Relevance -- Key Components -- The Key 
       Components -- Focus of Liability -- Good Governance of the
       Governing Body -- Effective Accounts and Audit -- 
       Effective Custody -- Public Transparency and Reporting -- 
       Independent Oversight -- Good Models: What They Do -- Good
       Models -- Canada Pension Plan -- Norwegian Government 
       Petroleum Fund -- California Public Employees' Retirement 
       System (CalPERS) -- Irish National Pensions Reserve Fund -
       - Models with More to Do -- Southeast Asia Region -- 
       Central Provident Fund in Singapore -- Japan -- Conclusion
       -- Annex 3.A: The Norwegian Petroleum Fund-Key Figures, 
       2002 -- References -- Notes -- Chapter 4 -- The Canadian 
       Experience on Governance, Accountabilityand Investment -- 
       Background -- Governance -- Integrity -- Investment Policy
       -- Accountability -- Concluding Remarks -- Notes -- 
       Chapter 5 -- Public Pension Funds Accountability: The Case
       of Ireland -- Background to the Irish Fund -- Present 
       Pension Arrangements -- Recommendation for Fund -- Fund 
       Establishment -- National Pensions Reserve Fund Act, 2000 
       -- Progress of the Fund since Establishment -- Objective 
       and Mission Statement -- Decision on Investment Strategy 
       and Portfolio Construction -- Appointment of Service 
       Providers -- Decision on Market Entry Strategy -- 
       Performance -- Accountability: Requirements and Practice -
       - Responsible Party 
505 8  Accountability Requirements in the Legislation -- Accounts
       and Audits -- Report and Information to the Minister -- 
       Appearance before the Committee of Public Accounts -- 
       Other Requirements for Accountability -- Other Ways of 
       Accounting to the Public -- Meeting the Requirements in 
       Practice -- Public Reaction -- Conclusion -- Annex 5.A: 
       Portfolio Construction -- Annex 5.B: Market Entry Strategy
       -"Averaging In" -- Annex 5.C: Progress -- Annex 5.D: The 
       National Pensions Reserve Fund-Section 12 Guidelines -- 
       Annex 5.E: National Pensions Reserve Act, 2000 -- Part 4: 
       Accountability and Reporting -- Notes -- Chapter 6 -- Key 
       Differences in Public Pension Fund Management between 
       Ireland and Poland -- Background -- Funds' Main Objectives
       and Funding -- Governance -- Investment Policy -- Public 
       Awareness -- Concluding Remarks -- Notes -- Chapter 7 -- 
       Governance of Public Pension Funds: New Zealand 
       Superannuation Fund -- Context -- New Zealand 
       Superannuation Policy -- Implications for Crown Finances -
       - Policy Objective -- Smoothing Crown Finances -- Other 
       Issues -- Features of Policy Design -- "A clearly defined 
       portfolio of Crown financial resources…" -- "… managed 
       by an independent governing body…" -- "…with explicit 
       commercial investment objectives…" -- "…and clear 
       accountability." -- Implementation Experience -- 
       Development and Passage of Legislation -- Board 
       Appointment -- Fund Establishment -- Capital Contributions
       -- Other Crown Financial Portfolios -- Circumstances of 
       the Main Entities -- Conclusion -- References -- Notes -- 
       Chapter 8 -- Investment Policies, Processes and Problems 
       in U.S. Public Sector Pension Plans: Some Observations and
       Solutions from a Practitioner -- Part I: Background 
       Information -- Distinguishing Public Sector Pension Plans 
       from Other Plans -- Importance of U.S. Public Sector 
       Pension Plans 
505 8  Part II: Toward Better-Informed Investment Policy Setting 
       -- Investment Policies Involve Two Big Risk-Return 
       Decisions -- Generic AA Decision Process -- Uncertain 
       Parameters and the "Perils of Optimization" -- 
       Differential Levels of Parametric Uncertainty -- Two-stage
       AA Recognizes Differential Parametric Uncertainty -- 
       Clarifying Expected Impact on Fund Performance -- End 
       Result: Higher-Confidence Policy Portfolios -- Part III: 
       Poor Governance Structures and Procedures Impede 
       Successful Implementation of Investment Policies -- Poor 
       Fund Governance: Costs, Descriptions, and Prescriptions --
       Seven Hurdles to Better Fund Governance -- Four 
       Organizational Hurdles -- Three Behavioral Hurdles -- Part
       IV: Trustee-Focused Report for Measuring and Monitoring 
       Fund Performance -- Conclusions -- References -- Notes -- 
       Chapter 9 -- The Norwegian Petroleum Fund -- Background --
       Governance -- Accountability -- Investment Policy -- 
       Active Management -- Concluding Remarks -- Notes -- 
       Chapter 10 -- Governance and Investment of Provident and 
       Pension Funds: The Cases of Singapore and India -- The 
       Case of Singapore -- What Needs To Be Done? -- The Case of
       India -- Governance and Investment Policies and Issues -- 
       EPFO Investment Policies and Performance -- EPFO's Rate of
       Return -- Governance Issues -- Civil Service Pensions -- 
       Conclusion -- References -- Notes -- Chapter 11 -- 
       Supervision of a Public Pension Fund: Experience and 
       Challenges in Kenya -- Background -- The Retirement 
       Benefit Act -- The National Social Security Fund -- Main 
       Issues -- Diagnosis -- Addressing the Issues -- 
       Implementation Issues -- Lessons from the Kenyan 
       Experience -- Reform Agenda -- Tables -- Table 1.1: 
       Implicit Public Pension Debt of Low- and Middle-Income 
       Countries -- Table 1.2: Regional Distribution of Public 
       Pension Funds -- Table 2.1: Agency Relationship 
       Characteristics 
505 8  Table 2.2: Allocation of Assets for 26 Pension Funds (% of
       Portfolio) -- Table 2.3: Board Composition (fraction of 
       board) -- Table 5.1: Benchmarks -- Table 7.1: Timeline of 
       Events -- Table 7.2: Crown Financial Assets and 
       Liabilities (NZ millions) -- Table 8.1: Sources of Assets 
       for U.S. Retirement System, 2001 -- Table 8.2: Ten Largest
       U.S. Employee Pension Funds, 2001 (as of September 30, 
       2001) -- Table 10.1: CPF Contribution Rates (applicable as
       of January 1, 2004) -- Table 10.2: Various Schemes Under 
       Singapore's CPF System -- Table 10.3: Sensitivity of 
       Results to Potential Policy Changes -- Table 10.4a: India-
       Investment Guidelines of the EPFO -- Table 10.4b: India-
       Investment Guidelines of the IRDA -- Table 10.5: Rates of 
       Contribution for EPFO Schemes, 2001 -- Figures -- Figure 
       1.1: Implicit Public Pension Debt in Selected OECD 
       Countries, 1994 -- Figure 2.1: Investment Restrictions 
       (percentage of funds surveyed) -- Figure 2.2: Investment 
       Mandates (percentage of funds surveyed) -- Figure 7.1: 
       Bounds for Indexation of the NZS Rate -- Figure 7.2: New 
       Zealand Population Age Structure -- Figure 7.3: Total 
       Fertility Rate -- Figure 7.4: Years of Eligibility for New
       Zealand Superannuation -- Figure 7.5: New Zealand 
       Superannuation as a Percentage of GDP -- Figure 7.6: 
       Smoothing the Cost of New Zealand Superannuation -- Figure
       8.1: Generic Asset Allocation Decision Process -- Figure 
       8.2: Generic Two-Stage Asset Allocation Decision Process -
       - Figure 8.3: Decide Asset Allocation in Two Stages -- 
       Figure 8.4: Two-Stage Asset Allocation Clarifies Project 
       Impact of Perormance Enhancing Strategies -- Figure 8.5: 
       Three-Panel Trustee-Friendly Performance Report -- Figure 
       9.1: Production of Petroleum, Mill Sm3 Oil Equivalent -- 
       Figure 9.2: Growth of the Petroleum Fund, 1996-2002 
505 8  Figure 9.3: Net Cash Flow from the Petroleum Sector and 
       Pension Expenditures (in percent of GDP) 
588    Description based on publisher supplied metadata and other
       sources 
590    Electronic reproduction. Ann Arbor, Michigan : ProQuest 
       Ebook Central, 2020. Available via World Wide Web. Access 
       may be limited to ProQuest Ebook Central affiliated 
       libraries 
650  0 Pension trusts -- Cross-cultural studies -- 
       Congresses.;Pension trusts -- Management -- Cross-cultural
       studies -- Congresses 
655  4 Electronic books 
700 1  Palacios, Roberto J 
776 08 |iPrint version:|aStaff, World Bank|tPublic Pension Fund 
       Management : Governance, Accountability, and Investment 
       Policies|dWashington : World Bank Publications,c2004
       |z9780821359983 
856 40 |uhttps://ebookcentral.proquest.com/lib/sinciatw/
       detail.action?docID=3050730|zClick to View